Viacom, Inc. (VIAB) Forms Bullish Double Top Pattern; Strong Momentum for Buyers Coming

May 22, 2018 - By Linda Rogers

Viacom, Inc. (NASDAQ:VIAB) Logo

The chart of Viacom, Inc. (VIAB) shows a double top with $29.96 target or 8.00 % above today’s $27.74 share price. The 8 months chart pattern indicates low risk for the $11.49 billion company. It was reported on May, 22 by Finviz.com. If the $29.96 price target is reached, the company will be worth $919.44 million more. Double tops are rare but powerful chart patterns.

The stock increased 1.06% or $0.29 during the last trading session, reaching $27.74. About 1.40 million shares traded. Viacom, Inc. (NASDAQ:VIAB) has declined 30.65% since May 22, 2017 and is downtrending. It has underperformed by 42.20% the S&P500.

Analysts await Viacom, Inc. (NASDAQ:VIAB) to report earnings on August, 2. They expect $1.08 earnings per share, down 7.69 % or $0.09 from last year’s $1.17 per share. VIAB’s profit will be $447.46M for 6.42 P/E if the $1.08 EPS becomes a reality. After $0.92 actual earnings per share reported by Viacom, Inc. for the previous quarter, Wall Street now forecasts 17.39 % EPS growth.

Viacom, Inc. (NASDAQ:VIAB) Ratings Coverage

Among 14 analysts covering Viacom (NASDAQ:VIAB), 2 have Buy rating, 0 Sell and 12 Hold. Therefore 14% are positive. Viacom had 15 analyst reports since January 2, 2018 according to SRatingsIntel. The rating was maintained by Deutsche Bank with “Hold” on Monday, February 12. The firm has “Hold” rating given on Thursday, January 4 by Wells Fargo. Needham upgraded Viacom, Inc. (NASDAQ:VIAB) on Thursday, March 15 to “Buy” rating. The firm has “Neutral” rating given on Wednesday, February 28 by Macquarie Research. The firm has “Hold” rating given on Wednesday, March 28 by Citigroup. As per Friday, February 9, the company rating was upgraded by RBC Capital Markets. As per Tuesday, January 2, the company rating was downgraded by Macquarie Research. Cowen & Co maintained Viacom, Inc. (NASDAQ:VIAB) on Monday, February 5 with “Hold” rating. Piper Jaffray maintained the stock with “Hold” rating in Friday, February 9 report. The firm earned “Hold” rating on Tuesday, January 2 by Barrington.

More recent Viacom, Inc. (NASDAQ:VIAB) news were published by: Seekingalpha.com which released: “Viacom Inc. 2018 Q2 – Results – Earnings Call Slides” on April 25, 2018. Also Investorplace.com published the news titled: “Viacom, Inc.’s Earnings Beat Isn’t Reason To Celebrate” on April 25, 2018. Nasdaq.com‘s news article titled: “Why Viacom, Synchronoss Technologies, and DHX Media Slumped Today” with publication date: May 14, 2018 was also an interesting one.

Viacom, Inc. operates media brands that create entertainment content worldwide. The company has market cap of $11.49 billion. The firm creates television programs, motion pictures, short-form content, games, consumer products, podcasts, live events, and social media experiences. It has a 5.54 P/E ratio. It operates through two divisions, Media Networks and Filmed Entertainment.

Viacom, Inc. (NASDAQ:VIAB) Ratings Chart

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